Although the list of multibaggers was thin in 2025 compared to last year amid sharp fluctuations in the Indian stock market, over two dozen stocks from the Nifty 500 pack recovered significantly after hitting one-year lows in the first half of the year, as investors made calculated decisions.
The Nifty 50 delivered a 10.5% return in 2025, sharply underperforming other key Asian peers, which surged between 16% and 70%. Sustained FPI selling, tariff-related worries, and currency woes limited Dalal Street gains, despite domestic fundamentals showing signs of improvement.
Nonetheless, steady inflows from domestic institutional investors have put the index on track for a tenth consecutive year of gains. Analysts expect the Indian stock market to stage a comeback next year amid a recovery in earnings, which could ease concerns over rich valuations.
BSE, Hindustan Copper, and RBL Bank make the list
Meanwhile, 30 Nifty 500 stocks staged a notable comeback this year. These include:
On track for biggest yearly surge since 2010: The list was led by Force Motors, which staged a massive turnaround, recovering 200% to ₹18,353 per share after hitting a one-year low of ₹6,128 at the start of the year. The recovery also put the stock on track for its biggest annual surge since 2010, when it soared 220%.
Steady orders boost rally: Investor sentiment toward Netweb Technologies also improved in April, supported by the company’s steady AI orders, which expanded its AI segment revenue, causing the stock to rebound 155% to ₹3,193 per share from a one-year low of ₹1,251.
Market share expansion: Ather Energy, which was listed in May, delivered solid returns for early investors. Though the stock initially faced pressure, momentum picked up in the following months due to the company’s improving market share in the electric two-wheeler segment, helping it rise 151% from May lows.
Metals comeback: Besides, metal stocks, which saw a sharp correction earlier in the year, made a strong comeback in the second half of 2025, driven by a significant rally across both base and precious metals amid rising geopolitical and trade tensions.
GMDC shares rebounded 141%, while those of Hindustan Copper and National Aluminium Company recovered 138% and 114%, respectively.
Capital markets shine: Capital market-related stocks such as Multi Commodity Exchange (MCX) and Bombay Stock Exchange (BSE) gained 145% and 117%, respectively, from their March lows.
Banking and NBFC surge: Stocks from the banking and NBFC segment, including L&T Finance, Aditya Birla Capital, Authum Investment & Infrastructure, IIFL Finance, RBL Bank, City Union Bank, AU Small Finance Bank, and Shriram Finance, rallied between 100% and 135%.
Defence stocks in vogue:Garden Reach Shipbuilders and Data Patterns (India) are only two defence stocks featuring on the list, advancing 117% and 100%, respectively.
Paytm shines: After rallying 60% in 2024, Paytm failed to carry the same momentum early this year; however, earnings improvement coupled with target price upgrades from brokerage firms boosted the stock, helping it recover 103% to ₹1,324 per share.
Ringing loudly: Vodafone Idea shares have also seen a strong reversal in recent months, recovering a solid 100% from August lows, as sentiment toward the telecom major improved following the company’s better-than-expected September-quarter numbers and regulatory tailwinds.
Other notable performers include GE Vernova T&D India, Kirloskar Oil Engines, eClerx Services, HBL Engineering, Laurus Labs, JK Tyre & Industries, Hitachi Energy India, Godfrey Phillips India, Apar Industries, Syrma SGS Technology, and Chennai Petroleum, all recovering in the 100-152% range.